Omnichannel in Europe Today: Lessons from Leading Retailers
European retailers are in a race to keep up with rising shopper expectations, against a background of shifting market forces. This report provides a view of the key challenges and priorities shaping European retailers’ omnichannel strategies. A collaboration between Coresight Research and Salesforce, the report is based on insights gleaned from a survey conducted with 470 senior retail executives across Europe, and through expert interviews with leading European retailers. Key findings include:
- Omnichannel implementation is a priority for retailers, but most still have a lot to do. Full omnichannel implementation is a reality for only 14% of retailers surveyed, while nearly 60% are still in early stages of development and implementation.
- Competition from online pure plays is a key driver for retailers’ omnichannel strategies due to the cost and complexity of integrating new systems into existing operations. European retailers face specific challenges, such as regulations on data privacy and security, when launching omnichannel operations.
- Omnichannel leaders pursue long-term objectives, including strengthening customer relationships and increasing operational efficiency, rather than focusing on short-term gains such as increasing sales.
- Omnichannel leaders envision the store of the future to be a place that will complement digital channels by offering customer engagement, personalization and experiences that customers can’t get online.